STORY LINK Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, NZD
Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, NZD
POUND STERLING
No data releases in the UK today have led the Pound to drift downwards against the other majors. Tomorrow?s PMI Manufacturing sector survey will be closely watched ? last month?s counterpart figure disappointed, causing downward pressure on the Pound. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
US DOLLAR ? The Pound Dollar exchange rate (GBP/USD) is 1.6328
Yesterday afternoon?s weak US Consumer Confidence survey and the release of the minutes of the August FOMC meeting last night have knocked the wind out of the sails of the US Dollar. The Dollar had been trending stronger since last Friday, but market participants were spooked by the FOMC minutes which revealed that US policy-makers are actively considering a further loosening of domestic monetary policy. NEAR-TERM OUTLOOK ? NEUTRAL TO POSITIVE.
EURO ? The Pound Euro exchange rate (GBP/EUR) is 1.1306
This morning?s German unemployment data showed that the number of workers without gainful employment in the Eurozone?s powerhouse economy continued to drop this month. This has helped prop up the Euro against the other majors and raises hopes for a positive German GDP growth figure tomorrow. NEAR-TERM OUTLOOK ? NEUTRAL TO POSITIVE.
AUSTRALIAN DOLLAR ? The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5279
Global stocks have continued to push forward over the past 24 hours, causing the Australian Dollar to further strengthen on the currency markets. The GBP AUD rate is now over 10c lower than its 5-month high of the second week of this month, leaving the Aussie in danger of profit-taking by speculators. NEAR-TERM OUTLOOK ? NEUTRAL TO POSITIVE .
NEW ZEALAND DOLLAR ? The Pound New Zealand Dollar exchange rate (GBP/NZD) is 1.9120
The Kiwi has strengthened dramatically over the past two weeks as appetite for risk flooded back into global markets following the stock market wobble of the first half of this month. This saw the GBP NZD rate make a failed run at 1.9000 earlier today. The retracement which followed was partly driven by weak Japanese and South Korean manufacturing sector data released overnight, so it is possible that the forward move for GBP NZD may have legs. NEAR-TERM OUTLOOK ? NEUTRAL TO POSITIVE.
For other live currency exchange rates and a currency converter see the currency news website.
TAGS: American Dollar Forecasts Australian Dollar Forecasts Currency Predictions Euro Forecasts New Zealand Dollar Forecasts Pound Australian Dollar Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound New Zealand Dollar Forecasts Pound Sterling Forecasts
Source: http://www.currencynews.co.uk/forecast/20110831-709_forex-predictions-gbp-usd-eur-aud-nzd.html
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